CFSL Integrated Report 2025

195

Introduction

Group Overview

Leadership

Strategy & Performance

Explanatory Notes 30 September 2025 20. INVESTMENT IN SUBSIDIARIES

COMPANY

Sep-25 MUR m

Sep-24 MUR m

948.4

(a)

At 1 October and 30 September

948.4

(i) Put option over non-controlling interest Included in the above figures are the put options in favour of Loinette Capital Limited. The non-controlling shareholders of the company have an option to offload their shareholding to the Company in accordance with the terms mentioned in the Share Purchase Agreement at fair value of shares on the date of Put for cash. Put option liability with non-controlling interest is accounted for at fair value. Subsequent changes to the put option liability are recognised in profit or loss. (ii) Impairment of investments In preparing the financial statements, the directors make an assessment regarding the recoverability of its investment in subsidiaries to determine if any impairment is required. In cases where the carrying amounts are greater than the recoverable amounts, the carrying amounts are reduced to their recoverable amounts. As at 30 September 2025, the Company assessed for impairment of its investments in subsidiaries, in accordance with IAS 36 - Impairment of Assets where a value in use approach has been used, with a pre-tax rate of 5.76% (2024: 5.71%). No impairment was recognised for the year ended 30 September 2025 and 2024. (b) Details pertaining to the subsidiaries Proportion of direct ownership (%) Proportion of indirect ownership (%)

Stated Capital (MUR 000s) Sep-25 Sep-24 Sep-25 Sep-24

Non Controlling Interest (%)

Principal activity

Name of subsidiaries

Year end

Investments Cim International Holdings Ltd

Investment holding

100.0 100.0

– –

195,943

100.0 100.0

– –

30 September 30 September

– –

–

Cim Kenya Ltd

Holding company Provision of retail credit

–

100.0

3

–

100.0

30 September

–

Cim Credit Kenya Ltd Cim Insurance Agency Ltd Cim Learning Centre Ltd Key Financial Services Ltd The Oceanic Trust Co. Ltd

–

100.0

37 25

–

100.0

30 September 30 September

– –

Insurance agent

100.0

–

100.0

–

Cim Administrators Ltd Secretarial services

Investment holding Investment holding

100.0

–

1,000

100.0

–

30 September

–

–

100.0

300

–

100.0

30 September

–

–

100.0

426

–

100.0

30 September

–

Corporate trustee

Charitable institution

100.0

–

–

100.0

–

30 September

–

Cim CSR Fund Ltd

Asset based finance provider SME

Loinette Capital Limited

75.0

– –

422,511

75.0

– –

30 September 30 September

25.0

100.0

–

–

Cim Academy Ltd Training institution

–

All the companies have only ordinary shares, except for Cim CSR Fund Ltd which has management shares. The Company has provided letters of support in favour of subsidiaries having financial difficulties. The above subsidiaries operate and are incorporated in Mauritius except for Cim Credit Kenya Ltd and Cim Insurance Agency Ltd which operate and are incorporated in Kenya. Excluding companies under liquidation and dormant companies.